Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2019 Year 2019 This

Penalty u/s 271D - receipt of cash loans exceeding ₹ ...

Income Tax

January 4, 2019

Penalty u/s 271D - receipt of cash loans exceeding ₹ 20,000/- in contravention of section 269SS from the company by the director - the said amount has also been re-deposited as evidenced by the bank statements - No penalty.

View Source

 


 

You may also like:

  1. Penalty levied u/s. 271D r.w.s. 273B - reasonable cause for the assessee to accept loan over ₹ 20,000/- in cash - levy of penalty confirmed.

  2. Penalty for cash loan/ transactions against primary co-operatives - Section 269SS / 269T - Relief given to Primary Agricultural Credit Societies (“PACS”) and Primary...

  3. Penalty u/s 271D - receipt in cash being undisclosed income - Loan or advance is a sine qua non or foundational fact for the applicability of the provisions of Section...

  4. Penalty u/s 271D - Penalty can be levied on the amounts of loan which exceeds the amount of ₹ 20,000/-. Therefore, the A.O. is directed to exclude ₹ 20,000/-...

  5. Important advisory for e-Invoice for Taxpayers having annual turnover exceeding ₹ 20 Crores - SGST

  6. Penalty u/s 271D - Default u/s 269SS - loans in question were received by the assessee in cash from her daughter and son-in-law - no penalty leviable

  7. Penalty u/s 271D – Cash loans received from creditors – the genuineness of the creditors have been verified and the transactions were never doubted by the Authorities...

  8. Penalty u/s 271D - Acceptance of loan in Cash by the appellant firm from its agriculturist customer - violation of provisions of section 269SS - penalty confirmed - HC

  9. Penalty u/s 271D - share application money exceeding ₹ 20,000/- was received in cash - assessee has squarely failed in pointing out any reasonable cause as why the...

  10. Penalty u/s 271D - accepting loan in cash - reasonable cause - the AO has neither doubted the impugned transaction nor any addition made in this behalf even under...

 

Quick Updates:Latest Updates